SK Hynix stock (NASDAQ: SKHY) had a blockbuster listing on Friday (July 10, 2026), rising 17% in the day’s trading session. It is temporarily trading under the SKHYV ticker on the Nasdaq index and will be switched back to its permanent ticker SKHY on Monday. The listing came through the American Depositary Receipts (ADRs), and the $26.5 billion offering was over seven times oversubscribed. Such is the scale of its demand as Wall Street is chasing the next big thing in the AI sector.
This is the second-largest US stock listing in history, surpassed only by SpaceX’s blockbuster IPO in June. The barrage of investments came from institutional funds that were starved of SK Hynix stock as they had to purchase it with international accounts on the South Korean KOSPI markets. Moreover, the direct access from today allows them the flexibility of home turf, with the freedom of dealing with less transactional red tape.
SK Hynix is a South Korean semiconductor giant and the world’s second-biggest memory chip manufacturer. They produce vital hardware like DRAM (dynamic memory) and NAND flash (solid-state drives). The company also controls the majority of the High-Bandwidth Memory (HBM) market. All of these are crucial in powering the AI industry, and the company is at the top of the chain. This makes SK Hynix a must-watch stock, as the demand is high while the supply is limited.
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How High Can SK Hynix Stock Go?
It is still early to predict how high SK Hynix can go in the next few days. SKHY is only a day-old equity and its mettle is yet to be fully tested in the market. The accumulation spree is likely to continue as the stock is experiencing tremendous hype and buzz in the markets. After a point, it is prime to face corrections due to increased profit-bookings and sell-offs. It could go in a similar path to SpaceX stock, where its IPO opened at $150 and skyrocketed to $225, and again crashed back to the $150 level.
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